The former Celtic boss celebrated his side's first goal by briefly cupping his ears and raising his fist in the direction of Light Blues fans behind the dugout.
The Scottish Football Association is still investigating the incident despite police confirming that criminal charges were being dropped.
Lennon is quoted by Sky Sports News as saying: "It was completely over the top.
"When it comes to me and Ibrox it does get blown out of proportion. It made front page news and I don't think it warrants that.
"We move on, the police felt there were no criminal charges which I tend to agree with."
Lennon has a two-game suspended ban hanging over him following a touchline clash with Greenock Morton manager Jim Duffy last season.